Novavax Inc. (NASDAQ:NVAX) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totalling 63,380,696 shares, a decrease of 1.9% from the August 31st total of 64,620,841 shares. Approximately 24.2% of the shares of the company are short sold. Based on an average trading volume of 8,122,452 shares, the short-interest ratio is presently 7.8 days.
In other news, Director Michael A. Mcmanus, Jr. purchased 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 21st. The shares were acquired at an average cost of $1.61 per share, with a total value of $48,300.00. Following the transaction, the director now owns 247,590 shares in the company, valued at approximately $398,619.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gail Boudreaux purchased 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 20th. The shares were purchased at an average cost of $1.45 per share, for a total transaction of $145,000.00. Following the completion of the transaction, the director now owns 200,000 shares in the company, valued at approximately $290,000. The disclosure for this purchase can be found here. Corporate insiders own 3.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in NVAX. Coldstream Capital Management Inc. increased its stake in Novavax by 17.5% in the second quarter. Coldstream Capital Management Inc. now owns 13,805 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 2,055 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in Novavax during the second quarter worth $102,000. Veritable L.P. purchased a new stake in Novavax during the second quarter worth $102,000. BlackRock Inc. increased its stake in Novavax by 138.7% in the first quarter. BlackRock Inc. now owns 19,870 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 11,547 shares during the last quarter. Finally, Parametrica Management Ltd purchased a new stake in Novavax during the first quarter worth $107,000. Institutional investors own 79.84% of the company’s stock.
NVAX has been the topic of several analyst reports. S&P Equity Research dropped their target price on Novavax from $1.44 to $1.17 in a research report on Friday, September 16th. Citigroup Inc. increased their target price on Novavax from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Vetr lowered Novavax from a “strong-buy” rating to a “buy” rating and set a $7.77 target price on the stock. in a research report on Monday, July 25th. FBR & Co set a $17.00 target price on Novavax and gave the stock a “buy” rating in a research report on Thursday, August 11th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $25.00 target price on shares of Novavax in a research report on Monday, August 29th. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $7.06.
Novavax (NASDAQ:NVAX) opened at 2.20 on Thursday. The company’s 50-day moving average price is $5.93 and its 200 day moving average price is $6.06. Novavax has a 52 week low of $1.16 and a 52 week high of $9.23. The company’s market cap is $595.83 million.
Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.04. Novavax had a negative net margin of 1,405.84% and a negative return on equity of 112.45%. The business earned $2.50 million during the quarter, compared to the consensus estimate of $8.03 million. During the same quarter in the previous year, the firm posted ($0.08) EPS. The company’s revenue for the quarter was down 82.1% compared to the same quarter last year. On average, analysts anticipate that Novavax will post ($1.09) EPS for the current year.
Novavax, Inc (Novavax) is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company through its recombinant nanoparticle vaccine technology produces vaccine candidates to respond to both known and newly emerging diseases.
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